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Silk Road

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NEWS
September 22, 2011 | By Mary Forgione, Los Angeles Times Daily Travel & Deal blogger
The Silk Road conjures exotic goods -- ivory, wine, spices and gold -- transported along a network of trade routes between Asia and Europe. Mir Corp. hosts a 20-day trip along one route, from Tashkent in Uzbekistan to Tehran, where hand-made carpets are still sold along the way. "Once Forbidden Lands of Central Asia & Iran" starts in the Uzbeki capital of Tashkent, continues on to Turkmenistan's capital city of Ashgabat and visits Tehran, Persepolis and Isfahan as well as other parts of Iran.
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BUSINESS
March 25, 2014 | By Shan Li
This post has been corrected. See the note below for details. The Internal Revenue Service said Tuesday that bitcoin would be treated and taxed as property, a decision that is part of wider efforts to bring more oversight to the controversial digital currency. In its first big ruling on bitcoin, the agency noted that "it does not have legal tender status” and will be taxed under codes that apply to property transactions. That means wages paid to workers in bitcoins will be subject to federal income and payroll taxes.
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BUSINESS
February 4, 2014 | Bloomberg News
Ross William Ulbricht was indicted Tuesday on charges that he operated the billion-dollar Silk Road website where customers used Bitcoins to buy and sell drugs. The indictment for Ulbricht, 29, who authorities said was known by his Internet moniker "Dread Pirate Roberts," includes a new charge, of engaging in a "continuing criminal enterprise. " The count carries a maximum life sentence and a mandatory minimum term of 20 years, said Preet Bharara, the U.S. attorney in Manhattan. Ulbricht was also indicted on previous charges of conspiracy to commit computer hacking and conspiracy to launder money.
BUSINESS
February 4, 2014 | Bloomberg News
Ross William Ulbricht was indicted Tuesday on charges that he operated the billion-dollar Silk Road website where customers used Bitcoins to buy and sell drugs. The indictment for Ulbricht, 29, who authorities said was known by his Internet moniker "Dread Pirate Roberts," includes a new charge, of engaging in a "continuing criminal enterprise. " The count carries a maximum life sentence and a mandatory minimum term of 20 years, said Preet Bharara, the U.S. attorney in Manhattan. Ulbricht was also indicted on previous charges of conspiracy to commit computer hacking and conspiracy to launder money.
ENTERTAINMENT
March 28, 2010 | By Scarlet Cheng
The Taklimakan Desert in northern China is one of the largest in the world -- vast and inhospitable, and its howling winds were once thought the cries of ghosts and demons. Yet since ancient times, travelers have braved its edges, some engaging in the East-West trade that eventually earned the routes a fabled name, the Silk Road. This weekend, the Bowers Museum opens an exhibition featuring about 150 artifacts from the area, "Secrets of the Silk Road: Mystery Mummies of China" (through July 25)
TRAVEL
May 2, 2010 | From The Los Angeles Times
HIKING Workshop Follow @renelynch    rene.lynch@latimes.com Six-hour field class offers beginners tips on using maps and compasses. When, where: 9 a.m. Sunday at the REI store in Santa Monica, 402 Santa Monica Blvd., Santa Monica. Admission, info: $60 members, $80 for non-members. (310) 458-4370, http://www.rei.com/class/162/market/162 SILK ROAD Presentation Yue Chi will show photos and discuss "Drive the Silk Road: From Istanbul to Beijing.
BUSINESS
January 27, 2014 | By Chris O'Brien
The chief executive of a Bitcoin startup backed by the Winklevoss twins was arrested Monday and charged with laundering money through a notorious drug-trafficking site. The Department of Justice said that it had charged Robert M. Faiella and Charlie Shrem with selling $1 million worth of Bitcoins to people attempting to buy and sell drugs on the Silk Road black market website. PHOTOS: 10 ways to use the sharing economy Shrem is CEO of BitInstant, a Bitcoin exchange that counts the Winklevoss twins as its investors.
ENTERTAINMENT
March 25, 2010
On display for the first time outside of Asia, Secrets of the Silk Road features more than 150 objects, including mummies and other archaeological items found buried in the parched sands of the Tarim Basin in the far Western Xinjiang Uygur region of China. Bowers Museum, 2002 N. Main St., Santa Ana. 10 a.m.-4 p.m. Sat. Through July 25. Weekends adult $20, children $18; weekdays adult $18, children $16. (714) 567-3600. www.bowers.org.
NEWS
November 6, 2013 | By Laura E. Davis
Just over a month after the illicit drug-dealing website Silk Road was shut down and its alleged founder arrested, the site relaunched Wednesday morning. The new Silk Road promises better security and is offering much of the same fare as its predecessor -- heroin, ecstasy and prescription medications purchased using the online currency Bitcoin , which is designed to be untraceable. Authorities arrested Ross William Ulbricht on Oct. 1, accusing the 29-year-old of building an illegal drug empire on the deep Web, that part of the Internet not reachable by standard search engines.
BUSINESS
October 2, 2013 | By Stuart Pfeifer
The Justice Department said it has arrested the mystery man who ran a hidden website called Silk Road that served as an Amazon-like marketplace for illegal drugs and guns, which were purchased with Bitcoin virtual currency. Authorities said the website had been used by "several thousand drug dealers" since January 2011 to distribute hundreds of kilograms of narcotics with sales exceeding $1 billion. Federal authorities said they had seized Bitcoin worth about $3.6 million, which they said is the largest seizure ever of the virtual currency.
BUSINESS
January 27, 2014 | By Andrew Tangel and Chris O'Brien
NEW YORK - The federal government has arrested one of the biggest names in the bitcoin community in the latest crackdown on digital currencies and their illicit use. Charlie Shrem, chief executive of digital currency exchange BitInstant, stands accused with a Florida man of laundering money through a notorious drug-trafficking website. Shrem is also vice chairman of the Bitcoin Foundation, a nonprofit group aimed at promoting the digital currency. He and codefendant Robert M. Faiella of Cape Coral, Fla., are accused of selling more than $1 million worth of bitcoins to people attempting to buy and sell illegal drugs on the Silk Road website, which the FBI shut down in October.
BUSINESS
January 27, 2014 | By Chris O'Brien
The chief executive of a Bitcoin startup backed by the Winklevoss twins was arrested Monday and charged with laundering money through a notorious drug-trafficking site. The Department of Justice said that it had charged Robert M. Faiella and Charlie Shrem with selling $1 million worth of Bitcoins to people attempting to buy and sell drugs on the Silk Road black market website. PHOTOS: 10 ways to use the sharing economy Shrem is CEO of BitInstant, a Bitcoin exchange that counts the Winklevoss twins as its investors.
BUSINESS
November 18, 2013 | By Becca Clemons
WASHINGTON - Warning that virtual currencies are attracting money-launderers and drug dealers, U.S. officials called for greater government oversight of Bitcoin and other peer-to-peer payment systems during the first-ever congressional hearing on the fast-growing Internet-based technology. Treasury, Justice and Homeland Security department officials told members of the Senate Committee on Homeland Security and Governmental Affairs on Monday that websites facilitating payments with Bitcoin should receive more scrutiny from federal financial regulators to ensure that the relative anonymity granted by virtual currencies isn't exploited.
NEWS
November 6, 2013 | By Laura E. Davis
Just over a month after the illicit drug-dealing website Silk Road was shut down and its alleged founder arrested, the site relaunched Wednesday morning. The new Silk Road promises better security and is offering much of the same fare as its predecessor -- heroin, ecstasy and prescription medications purchased using the online currency Bitcoin , which is designed to be untraceable. Authorities arrested Ross William Ulbricht on Oct. 1, accusing the 29-year-old of building an illegal drug empire on the deep Web, that part of the Internet not reachable by standard search engines.
BUSINESS
October 30, 2013 | By Shan Li
British bitcoin exchange Coinfloor opened its virtual doors to customers this week with a stated commitment to meeting government regulations and keeping money launderers out. The London-based exchange will officially open to trading Tuesday, but it is allowing customers to sign up and register for accounts beforehand. Coinfloor is launching at a time when bitcoin is facing increased scrutiny after the arrest of Ross Ulbricht, a 29-year-old from San Francisco who allegedly masterminded the online drug emporium Silk Road.
BUSINESS
October 3, 2013 | By Salvador Rodriguez
It's been less than two weeks since the iPhone 5c went on sale, but already Best Buy is discounting it by $50. The electronics retailer announced Thursday that customers who buy the device at one of its stores will receive a $50 gift card that can be applied at the time of the sale -- which would drop the price of the base iPhone 5c by half from $99.99 to $49.99. The offer runs from Thursday through Monday and appears to be a strategy by Best Buy to get customers to come into its stores and check out the new iPhone.
BUSINESS
October 3, 2013 | By Chris O'Brien
The once-obscure Bitcoin has been making news all year. There have been stories about the wild swings in the virtual currency's exchange rate, moves by financial regulators to shut down some Bitcoin-related businesses, and the attempts by its boosters to gain more mainstream credibility. But this week, the Bitcoin community was hit with a story potentially bigger than all the others: the seizure of the illicit Silk Road website and the arrest of its founder, Ross William Ulbricht, a 29-year-old former physics student from San Francisco.
BUSINESS
October 2, 2013 | By Stuart Pfeifer, Shan Li and Walter Hamilton
For two years, the FBI tracked the elusive founder of Silk Road, an Internet site that peddled heroin, ecstasy and every known type of prescription medication. The manhunt ended with the arrest of an unlikely suspect: Ross William Ulbricht, a 29-year-old former physics student from San Francisco. Prosecutors on Wednesday described Ulbricht as a criminal mastermind who built an illegal drug empire that they estimated had $1.2 billion in sales over the last three years, earning him $80 million.
BUSINESS
October 3, 2013 | By Chris O'Brien
The once-obscure Bitcoin has been making news all year. There have been stories about the wild swings in the virtual currency's exchange rate, moves by financial regulators to shut down some Bitcoin-related businesses, and the attempts by its boosters to gain more mainstream credibility. But this week, the Bitcoin community was hit with a story potentially bigger than all the others: the seizure of the illicit Silk Road website and the arrest of its founder, Ross William Ulbricht, a 29-year-old former physics student from San Francisco.
ENTERTAINMENT
October 2, 2013 | By David Ng
Annie Baker and Rajiv Joseph have been named the winners of the 6th Annual Steinberg Playwright Award, an annual theater honor organized by the Harold and Mimi Steinberg Charitable Trust. The awards, which will be handed out at a ceremony in New York on Nov. 18, are intended to recognize young and mid-career playwrights. The winners receive a monetary prize of $50,000 each.  Baker, whose play "Circle Mirror Transformation" had its local debut at South Coast Repertory in 2011, presented her most recent play, "The Flick," at the off-Broadway Playwrights Horizons in March.
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